The sale of a business is a complex task. Select experienced and qualified advisers. Selecting the right adviser can not only impact the value of the sale, but whether the sale will occur at all. You need to focus on future cash flow. Past performance is important, however, if you can develop defensible financial projections, pro formas and strategic benefits, you will greatly increase the selling price of the business. Sit down and write a business plan so a potential buyer can see the state of the business, its growth since it started, and where it can potentially go. Maintaining a good accounting history of what your business has done is critical. The buyer needs to know what the return of the business is at this moment, before thinking about the future. It is imperative that you clean up those financial statements. You need to clearly show ‘typical years’ of business. Accurately value your company. If the price of the business is too high it won’t sell at all. If you price it too low you are leaving money on the table. A professional valuation is paramount to maximizing the selling price. When writing your business plan, focus on the future of the company. If there are plans to get the business growing, start to implement those changes now and include the details of them in your business summary....Read More
Month: January 2016
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- End of Year Planning for 2020
- How does a small business owner advertise on a budget?
- How to Prevent the Spread of COVID-19
- Indomitable Spirit
- Marketing Integration – Where PR, Advertising & Marketing Worlds Collide
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- Our nation is not prepared for the inevitable…
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- What is critical when starting a new company?